The Law of Small Numbers in Financial Markets: Theory and Evidence
收藏NBER2024-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w32519
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资源简介：
We build a model of the law of small numbers (LSN)the incorrect belief that even small samples represent the properties of the underlying populationto study its implications for trading behavior and asset prices. In our model, a belief in the LSN induces investors to expect short-term price trends
提供机构：
美国国家经济研究局
创建时间：
2024-06-01
